Revisions to Gross Domestic Product
Gross domestic product (GDP), measures the value of the goods and services produced by
the U.S. economy in a given time period. GDP is one of the most comprehensive and closely
watched economic statistics.
What do we mean by "revision?"
- The change from initial release to "final" release
- These revisions are most noticed by policymakers and the business community: Yellen, POTUS, Wall Street,...
- Naming conventions vary across indicators
- Initial release may be called advance, preliminary, etc.
Why does GDP revise?
- Revisions to economic indicator inputs due to:
- Late and corrected sample responses
- Concurrent seasonal adjustment
- Error corrections
- Best source data not initially available
- Some key economic indicators are not available for use in the advance GDP estimates
- BEA imputes for them or uses alternative data sources, for example aggregate payroll hours data for health care industries from BLS instead of health care expenditures
Contributions to GDP revisions
Download GDP revisions csv
Contributions to GDP revisions
Gross domestic product
Gross private domestic investment
Fixed investment
Nonresidential
Structures
Computers and peripheral equipment
Software \
Other
Industrial equipment
Transportation equipment
Other equipment
Residential
Change in private inventories
Farm
Nonfarm
Net exports of goods and services
Exports
Goods
Services
Imports
Goods
Services
Government consumption expenditures and gross investment
Federal
National defense
Consumption expenditures
Gross investment
Nondefense
Consumption expenditures
Gross investment
State and local
Consumption expenditures
Gross investment
Personal consumption expenditures
Goods
Durable goods
Motor vehicles and parts
Furnishings and durable household equipment
Recreational goods and vehicles
Other durable goods
Nondurable goods
Food and beverages purchased for off-premises consumption
Clothing and footwear
Gasoline and other energy goods
Other nondurable goods
Services
Household consumption expenditures (for services)
Housing and utilities
Health care
Transportation services
Recreation services
Food services and accommodations
Financial services and insurance
Other services
Final consumption expenditures of nonprofit institutions serving households (NPISHs) \
Gross output of nonprofit institutions \
Less: Receipts from sales of goods and services by nonprofit institutions \
Equipment
Information processing equipment
Intellectual property products
Research and development \
Entertainment, literary, and artistic originals
Data
BEA Data Archive - National accounts